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Oliver Kaltner New CEO Of Leica Camera AG


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I fear that we may come to see this as the end of an era, from a customer orientated Leica to a wholly profit driven Leica. After all the money to pay the $450 million annual bonus to Blackstone's chairman, has to come from somewhere. If the profits come from sales of even better products, we may be pleasantly surprised but the usual private equity way, is to squeeze more profits by cutting costs and increasing margins.

 

Wilson

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No, but lets say its pretty odd to promote someone to CEO after only 5 months with the company, so for sure this was a planned succession. Lets say he passed the trial period and got the job ... all very German ;)

 

Especially so in Germany. He seems from what I've read to have no connection to or passion for photography, which is troubling. Bean counters and sales and marketing experts are a dime a dozen. Let's hope that he maintains the intangibles that have made Leica so special to us.

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I fear that we may come to see this as the end of an era, from a customer orientated Leica to a wholly profit driven Leica. After all the money to pay the $450 million annual bonus to Blackstone's chairman, has to come from somewhere. If the profits come from sales of even better products, we may be pleasantly surprised but the usual private equity way, is to squeeze more profits by cutting costs and increasing margins.

 

Wilson

 

... and then milk the company by declaring special dividends, load it up with debt, then flip it for obscene profits. Private equity is not a nice world - completely ruthless and bottom-line oriented to the extreme. The only thing that matters is money.

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Am I the only one that is not interested in yet another company made with the same mould of every other, which is what Blackstone normally does? I used to like Leica also because of its unique ethos and of its German family owned tradition. We could buy not only a camera, but buy into a story. Quality wise other companies are on par. I do not think I will bother to buy other cameras and lenses from Blackstone, when I can buy them from Fuji or Sony or anyone else.

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